Wealth inequality soars as productivity gains bypass workers
The article "Growth and Distribution" explores economic growth and income distribution through various models and theories. It discusses measuring growth and distribution, models of production, the labor market, consumption and saving, classical models of economic growth, biased technical change, and the neoclassical growth model. The researchers analyze different factors affecting economic growth, such as technology, labor productivity, and technical change, to understand how economies evolve over time. Key findings include the importance of saving rates, population growth, and steady state growth in the neoclassical model, as well as the impact of biased technical change on economic development.